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Cadence Design Systems Q4 Profit Increases, beats estimates

Cadence Design Systems (CDNS) announced earnings for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $176.58 million, or $0.63 per share. This compares with $173.74 million, or $0.62 per share, in last year's fourth quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $227.37 million or $0.82 per share for the period.

Analysts on average had expected the company to earn $0.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.7% to $773.04 million from $759.91 million last year.

Cadence Design Systems earnings at a glance (GAAP) :

-Earnings (Q4): $176.58 Mln. vs. $173.74 Mln. last year.
-EPS (Q4): $0.63 vs. $0.62 last year.
-Analyst Estimate: $0.76
-Revenue (Q4): $773.04 Mln vs. $759.91 Mln last year.

-Guidance:
Next quarter EPS guidance: $1.00 - $1.04
Next quarter revenue guidance: $850 - $870 Mln

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